Written by Ravi February 7, 2022 0 Comments 16 views 1 min read

One-Time Settlement with 60% Discount: Overcoming High-Interest Debt Trap

One Time Settlement with credit clearance with a discount of 60% and improved his credit score. Total debt was ₹1,67,933 and settled for ₹70,000

A company director from Mahabubnagar had approached us to obtain a settlement for two of his loans. He was struggling to service them due to a downturn in business because of the Covid-19 lockdown and wanted to be debt free. He was experiencing creditor harassment with continuous calls and visits to his business address.

He had unsecured loans from Bajaj Finserv and had missed 6 EMI payments. The total outstanding debt was ₹19,13,269. We were able to negotiate a one-time settlement with a 67% discount reducing the balance owed to just ₹6,40,000 as full settlement of the loans. Saving him ₹12,73,269 from the original balance due.

Our Advocates checked the authenticity of the bank’s settlement, vetted the settlement letters to ensure that the debt was marked as full and final as per the negotiated terms.